Posted by Loanclosings on 10/24/08 12:19pm
Msg #268089

Archer Land Title and Ace Mortgage closed

I just found out that today (10/24/08) Archer Land Title and Ace Mortgage closed ALL of their doors. Just thought I would let everyone else know.

Reply by Julie/IL on 10/24/08 12:28pm
Msg #268090

Where did you get that info from?

They called us twice last week for closings and thank God we didn't do them. But if this info is true, they would have obviously known what was going to be happening and were STILL trying to get notaries to close their loans! Shady, shady people.

Reply by NCLisa on 10/24/08 12:33pm
Msg #268091

The Branches don't always know what is coming!

When things are down and you work for a TC, you pray that you will be one of the few to hold on to your job. Branches close down, and those decisions are made by higher ups, and branch managers may not know until higher management walks through the door. If it is true and they closed their doors, I'm sure the day to day employees had no idea.

Reply by Julie/IL on 10/24/08 12:38pm
Msg #268093

Yes, NCLisa, you are probably right.

Now a days it is so much harder to trust people, I just assumed they knew. Still, with the way their pay was getting further and further behind, I am just glad we didn't close the loans for them.

Reply by LisaWI on 10/24/08 12:34pm
Msg #268092

Re: Where did you get that info from?

I just tried to call the IN and MN offices. Both went into voicemail, with the IN office greeting saying they are closed and they will get back to you during normal business hours.
Not a good sign. Closed at 12:30PM on a Friday at the end of the month.

Reply by sue_pa on 10/24/08 12:49pm
Msg #268095

I also agree with Lisa - but Archer was still trying at 5:00 last night to schedule an Ace for 8:00 last night - she had been working on it all week - I had 3 requests for the same order and I declined all 3 times.

They owe me $100 - if they have closed with no intentions of paying, I'll be at the magistrate next week because Ace has a PA office. I'll own office furniture or equipment in about a month.

Reply by LisaWI on 10/24/08 1:04pm
Msg #268097

I started turning down the RESPAs, but did take a closing for them on the 17th. I was on the HUD, so Im hoping the check went out already. Disbursement was the 22nd. What are the odds I'll get paid? I guess I can kiss the RESPA payments goodbye though.
This is the biggest hit yet for me. Im super careful who I work for. Funny how I just did a posting a little bit ago asking about Archer and their closings.

Reply by ML/PA on 10/24/08 1:49pm
Msg #268101

It's true

I just called Archer and was told it is true and that they are trying to wrap up everything. I asked where that left us who are owed money and she said to make sure your invoices are submitted and accounting is working on getting checks out. I wonder who's next?

Reply by LisaWI on 10/24/08 2:13pm
Msg #268106

Re: It's true-ML/PA

Who did you speak with and what office? Not sure where to send invoices and to what number.

Reply by ML/PA on 10/24/08 2:25pm
Msg #268108

Re: It's true-ML/PA

I called the IN office (317)246-5775. I didn't catch her name but she answered the phone. That address is: 777 Beachway Dr., Ste 250
Indianapolis, IN 46224

Reply by LisaWI on 10/24/08 2:35pm
Msg #268109

Re: It's true-ML/PA-Thank you :) n/m

Reply by IndyCloser28 on 10/24/08 1:50pm
Msg #268102

My good friend works at Archer and she had NO CLUE they were closing and she is a manager. Ace Mortgage doors are completely shut however she said Acher will still be there closing what is left in the pipeline for Ace for about the next month. All closings get paid on the HUD therefore the notaries will be paid for those closings. I asked about the RESPAs as I have some I have done as well. She said they are still planning on paying out whatever they possibly can. That is what she was told. So please don't think the people that work there are shady as she is not and she had no idea this was going on. They had picked up business, almost doubled for them the past 2 months she said. It sucks, I feel bad for her and the other people that work there.

Reply by Becca_FL on 10/24/08 2:50pm
Msg #268110

Not ALL True, but an indication of what might be coming.

I just spoke to my contact @ the corp. office in IN. She assured me that they are still open for business, but are closing branch offices...again. I have been calling about payment for a closing I did on 9/12 and received a call yesterday stating my check would be cut today. Today I was 'assured' that my check will be mailed out Monday.

Do I believe her? I have no choice but to believe her. Will I be surprised when my check doesn't show or shows and bounces? No. IF corporate is still open for business it may be just a matter of time...definitely a warning sign. JMHO

Reply by Loanclosings on 10/24/08 3:19pm
Msg #268112

Re: Not ALL True, but an indication of what might be coming.

We were in the Downers Grove office when the lock smith came in to change the locks and we had to do a closing in the cafeteria. I also spoke to the managers and this came has a total surprise to them. The escrow company that Archer and Ace invested in went belly up. Its official they are closed - sadly they owe us a lot of money.

Reply by A-1 Signing Agents, LLC on 10/24/08 3:25pm
Msg #268113

Re: Not ALL True, but an indication of what might be coming.

I am so glad I was doing jury duty last week when they called. First I was upset I couldn't take the closing but now i'm thankful. They were one of the better one's to work for. It's really a shame. So many more people to join the unemployed.

Reply by lindetteh_PA on 10/24/08 9:28pm
Msg #268148

I can't beleive this I received a call at 3:00pm today for a signing at 7:00 pm. When the girl who called me offered me a fee that was 25.00 less than my normal fee I started asking her questions about the loan she was very short and said never mind I'll just find somebody else which I said Ok since I had 3 more to do today anyway. I sure hope the notary that went to Ambler Pa for them tonight gets paid.